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Breaking stock market news October 2, 2020

breaking stock market news

“September jobs report: US economy gains 661,000 payrolls, unemployment rate ticks down to 7.9%.

The US economy saw another 661,000 jobs added back in September and a modest improvement in the unemployment rate, as the recovery in the labor market continues as a stagnating rate.

The Labor Department released its September jobs report Friday morning. Here were the main metrics from the release, compared to consensus estimates compiled by Bloomberg.

  • Change in non-farm payrolls: +661,000 vs. +859,000 expected
  • Unemployment rate: 7.9% vs. 8.2% expected
  • Average hourly earnings, month over month: 0.1% vs. 0.2% expected
  • Average hourly earnings, year over year: 4.7% vs. 4.8% expected
  • Labor force participation rate: 61.4% vs. 62.0% expected

The addition in non-farm payrolls marked the fifth straight month of net job gains. July’s payroll gains were upwardly revised by 27,000 to 1.761 million, and August’s were revised up by 118,000 to 1.489 million.”

Stock market data: Yahoo Finance


Breaking stock market news September 4, 2020

Breaking stock market news

“Jobs report: US economy adds 1.371 million payrolls in August, unemployment rate dips to 8.4%.

he US economy added back a greater than expected number of payrolls in August and the unemployment rate improved by a bigger than anticipated margin.

Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg:

Change in non-farm payrolls: +1.371 million vs. +1.350 million expected, vs. +1.763 million in July

Unemployment rate: 8.4% vs. 9.8% expected, vs. 10.2% in July

Average hourly earnings, month over month: 0.4% vs. 0.0% expected, +0.2% in July

Average hourly earnings, year over year: 4.7% vs. 4.4% expected, 4.8% in July

Labor force participation rate: 61.7% vs. 61.8% expected, 61.4% in July.”

Stock market data: Yahoo Finance


Breaking stock market news July 30, 2020

Breaking stock market news

“Q2 GDP: US economy contracted by worst-ever 32.9% in Q2, crushed by coronavirus lockdowns.

The US economy contracted at the sharpest rate on record in the second quarter this year, affirming fears that the coronavirus pandemic and measures to contain it drove a historic plunge in consumer and business activity.

Here were the main metrics from the Bureau of Economic Analysis’ advance Q2 GDP report, compared to consensus estimates compiled by Bloomberg:

  • Q2 GDP annualized, quarter over quarter: -32.9% vs. -34.5% expected vs. -5.0% in Q1

Market participants were bracing for an ugly second-quarter print, with the coronavirus pandemic forcing business closures and disrupting daily activity for much of the April through June period.

The estimate for a 34.5% annualized contraction would have marked by far the worst plunge ever recorded, based on Bureau of Economic Analysis data spanning back to 1947. Before the pandemic, the worst GDP print on record was in the first quarter of 1958, when GDP fell 10.0% on an annualized basis.

US economic activity contracted by 5.0% in the first quarter of 2020, which captured only the start of the coronavirus pandemic and business shutdowns in March.”

Stock market source: https://finance.yahoo.com/news/q2-gdp-us-economy-coronavirus-pandemic-consumer-171558880.html


Breaking stock market news today July 2, 2020

Breaking stock market news today

“The U.S. economy added millions more payrolls in June from May, as regions across the country eased social distancing restrictions and allowed more businesses to reopen. The net additions in payrolls topped consensus expectations.

Meanwhile, the unemployment rate fell from May’s level but held at a historically high level, as many Americans remained out of work with the pandemic still under way.

Here were the main metrics from the Department of Labor’s report, compared to consensus estimates compiled by Bloomberg:

Change in non-farm payrolls: +4.8 million vs. +3.23 million expected

Unemployment rate: 11.1% vs. 12.5% expected

Average hourly earnings, month on month: -1.2% vs. -0.8% expected

Average hourly earnings, year on year: +5.0% vs. +5.3% expected”

Stock market data: Yahoo Finance


Breaking stock market news on June 10, 2020

Breaking stock market news today

“Fed: No rate hikes likely through 2022, projects 6.5% GDP contraction this year.

The Federal Reserve decided on Wednesday to hold interest rates steady at near-zero, signaling its intention to support a post-COVID economic recovery by keeping rates at the lower bound through at least 2022.

“Financial conditions have improved, in part reflecting policy measures to support the economy and the flow of credit to US households and businesses,” the Fed said in its statement released Wednesday afternoon. The Fed also committed to increasing its asset purchases “over coming months.”

In a set of new economic projections, most of the 17 members of the Federal Open Market Committee appeared to support keeping the federal funds rate in the target range of between 0% and 0.25% through the forecast horizon of 2022. In “dot plots” mapping out each members’ forecasts, only two policymakers saw a case for hiking rates in 2022 (one of which saw four rates hikes by the end of 2022).

By keeping rates low through at least 2022, the Fed hopes it will be able to steer the economy back to its pre-pandemic shape. The decision to hold rates at near-zero was unanimously agreed upon.

The FOMC’s forecast on key economic indicators suggest that those within the central bank expect a gradual recovery.

The median FOMC participant still expects real GDP contracting by 6.5% in 2020 with the unemployment rate at an elevated level of 9.3% by the end of the year. But in 2021, the median projection has unemployment falling to 6.5% and real GDP rebounding by 5.0%.

Some positive signs already arrived in the form of last Friday’s jobs report, which showed unemployment ticking down as 2.5 million jobs were added back to the economy.

Despite unprecedented fiscal relief and the Fed’s ballooning balance sheet, Fed officials do not expect inflation to meaningfully appear. The median FOMC policymaker forecasts low inflation (as measured in core personal consumption expenditures) of just 1.0% in 2021, rising moderately to 1.5% in 2021. The central bank’s inflation target is 2%.

The Fed’s statement reiterated its commitment to “use its tools and act as appropriate to support the economy.”

The Fed’s economic projections are usually released quarterly but because the central bank skipped its March release amid its emergency meetings, meaning that the forecasts released today are the Fed’s first for 2020.”

Stock market source: https://finance.yahoo.com/news/fed-fomc-monetary-policy-decision-june-2020-133528214.html

Stock market commentary

Low-interest rates are positive for stocks, both for their valuation and also reducing the interest costs for companies with a large amount of debt. Also, low-interest rates could be a main driver for the stock market rally, after the stock market made a bottom until now in late March 2020. With low bond yields, the investors turn to risky financial assets such as stocks to get returns more than those offered by safer relatively assets such as bonds.


Breaking stock market news for June 5, 2020

Breaking stock market news today

US NFP rose by 2.5 million in May, Unemployment Rate fell to 13.3%. Noth numbers beat expectations.

The consensus for non-farm payrolls was -8000K, and the actual number came in at +2509K. The consensus for the unemployment rate was 19.8% and the actual number came in at 13.3%. A very strong US jobs report and to a very large degree unexpected could move the US stock market today.

Source: Fxstreet.com


Breaking stock market news today, April 30, 2020

Breaking stock market news today

The weekly initial US jobless claims figure came in at 3839 thousand more than the foreact of 3500 thousand. More than 3.8 million persons filed for unemployment.

Other important economic indicators

The personal income figure came in at -2.0%, worse than the consensus of -1.5%. The personal spending figure came in at -7.5%, worse than the consensus of -5%.

Source: https://www.fxstreet.com/economic-calendar


Breaking stock market news for April 29, 2020

Breaking stock market news

US GDP contracted at 4.8% rate in first quarter. The USD Gross Domestic Product Annualized(Q1) PREL came in at -4.8%, worse than the consensus 0f -4.0%

Source: FXstreet.com


Breaking stock market news US Initial Jobless Claims skyrocket to 3,283,000

Breaking stock market news

” Initial Claims for unemployment benefits in the US jumped to  3,283,000 for the week ending March 21 from 282,000, the data published by the US Department of Labor revealed on Thursday. “

Source: https://www.fxstreet.com/news/breaking-us-initial-jobless-claims-skyrocket-to-3-283-000-202003261230

United States Initial Jobless Claims

“The number of Americans filling for unemployment benefits jumped to an all-time high of 3.28 million in the week ended March 21st, the highest since the series began in 1967 and well above market expectations of 1.0 million, as efforts to contain the rapid spread of coronavirus hit businesses and activity across the country.”

United States Initial Jobless Claims
United States Initial Jobless Claims

Source: Trading Economics

Stock market news, US stock futures are down almost 2% before the open of today’s trading session

At 8:39 AM Thursday, March 26, 2020, Eastern Time (ET), US stock futures decline:

S&P Futures: 2,409.50,-57.50(-2.33%)
Dow Futures: 20,570.00,-456.00(-2.17%)
Nasdaq Futures: 7,322.50,-145.25(-1.95%)
Russell 2000 Futures: 1,074.20,-22.90(-2.09%)

Stock market data: Yahoo Finance




Stock market update February 7 2020

Stock market update

Stock market data as of 2:00 PM EST Time, February 7, 2020:

S&P 500: 3,328.92,-16.86(-0.50%)
Dow 30: 29,116.33,-263.44(-0.90%)
Nasdaq: 9,523.46,-48.70(-0.51%)
Russell 2000: 1,661.48, -15.97(-0.95%)

Stock market live

A strong jobs data is not enough today to send the US stock market higher, all majot stock market indexes have losses as of 2:00 PM EST time.

Why is the stock market down today

It could be profit taking after the last record highs. Among most active stocks is Uber Technologies, Inc. (UBER), trading at 40.15+3.06 (+8.25%).